Fuel Company TVEL

What Fuel Company TVEL does

TVEL (АО «ТВЭЛ») is the fuel division of Rosatom State Atomic Energy Corporation (Госкорпорация «Росатом»), Russia's state-owned nuclear corporation, and serves as the sole domestic supplier of nuclear fuel for Russian nuclear power plants. The company operates a vertically integrated nuclear fuel cycle that spans uranium conversion and enrichment (ECP in Zelenogorsk, Ural Electrochemical Combine), gas centrifuge manufacturing (NPO Centrotekh in Novouralsk), fuel fabrication for VVER, RBMK, and other reactor types, zirconium alloy component production (ChMZ in Glazov), stable isotope separation (~40% global market share), and nuclear facility decommissioning services. TVEL exports fuel to 13-15 countries, supplying 75+ energy reactors plus research and transport reactors (including Russian atomic icebreakers), with every sixth energy reactor worldwide reportedly operating on TVEL fuel. Revenue is generated primarily through long-term government-to-government fuel supply contracts and intergovernmental nuclear cooperation agreements; specific pricing is not publicly disclosed.

Beyond nuclear fuel, TVEL operates a growing portfolio of non-nuclear businesses through 20+ subsidiaries. Rosatom Khimiya is building out battery chemistry (electrolytes for lithium-ion, sodium-ion, and potassium-ion batteries, modified LiCoO2 cathodes with 15%+ energy density gains, lithium-7 fluoride for molten salt reactors) with a planned Volgograd megaplant targeting 25,000 tonnes/year of cathode and electrolyte materials by 2029. ChMZ produces zirconium alloys (18% global rolled zirconium market share), titanium seamless tubes (50% of Russian market), electrolytic high-purity calcium (sole producer in Russia and Europe), hafnium, niobium, tantalum, and superconducting materials. Ecoalliance manufactures Euro-5/Euro-6 catalytic neutralizers (200,000+ elements/year capacity). Rosatom Khimiya operates Russia's first gigafactory for energy storage systems in Kaliningrad (December 2025 launch) with a second under construction in New Moscow. Other lines include full-cycle additive manufacturing (RosAT, including metal powders, certified reference samples, and a 200+ model digital library that reduced tooling lead times by 85%), the EM-30 hydrogen electrolyzer (deployed in Sakhalin under the federal hydrogen program), digital products (AtomMind, AtomReverse, AtomBot platforms), and decommissioning/radioactive waste management.

Name

Fuel Company TVEL

Legal name

АО «ТВЭЛ»

Website

https://tvel.ru

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

TVEL is Rosatom's fuel division and Russia's sole nuclear fuel supplier, serving 75+ energy reactors in 13+ countries. Beyond nuclear fuel, it produces stable isotopes, specialty metals, battery materials, autocatalysts, and energy storage systems via 20+ subsidiaries.

Ownership category

akta.pro rank

Product category

Nuclear Fuel Manufacturing

NAICS

Chemical Manufacturing (325)

SIC

Miscellaneous Chemical Products (2890)

akta.pro primary industry

Fuel Fabrication (UO2 Fuel Pellets, Rods & Assemblies) (EUAKACAF)

akta.pro secondary industries

Uranium Enrichment Services (Centrifuge/Laser, SWU Supply) (EUAKACAD), Advanced & Non‑LWR Fuel Manufacturing (TRISO, metallic fuels, HALEU fuels) (EUAKACAG), Reactor Vessel, Internals & Primary Circuit Components (RPV, piping, pumps, valves) (EUAKADAE)

Keywords

• Nuclear fuel fabrication
• Uranium enrichment services
• Stable isotope production
• Specialty metallurgy products
• Nuclear fuel components

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Nuclear fuel supply: TVEL generates primary revenue from manufacturing and supplying nuclear fuel assemblies and components to nuclear power plants. As the sole supplier of nuclear fuel for Russian nuclear power plants, TVEL also exports to 13 countries, supplying 75+ energy reactors and research reactors worldwide.
2. Uranium enrichment and conversion services: Services for isotopic enrichment of uranium and uranium conversion for domestic and international nuclear fuel manufacturers, leveraging Russia's largest enriched uranium production capacity.
3. Stable isotope products: Sale of stable isotopes (including lithium-7, hafnium, zirconium, calcium, titanium, niobium, tantalum) used in medicine, industry, aerospace, and fundamental physics research, contributing to TVEL's 40% global market share in stable isotopes.
4. Specialty chemicals (Rosatom Khimiya): Revenue from lithium compounds, battery electrolytes, cathode/anode materials, fluorinated products, and automotive components (autocatalysts, exhaust systems) produced by Rosatom Khimiya and its subsidiaries.
5. Metallurgical products: Revenue from zirconium alloys, titanium products, calcium, hafnium, niobium, tantalum, and superconducting materials sold to aerospace, automotive, chemical, oil & gas, and medical industries.
6. 3D printing and additive manufacturing: Revenue from 3D printing services, metal powder production (titanium alloys), and certified reference materials for powder quality control.
7. Energy storage systems: Revenue from battery production and energy storage solutions including gigafactory operations in Kaliningrad and New Moscow, supported by Rosatom's integration of battery cells and management systems.
8. Decommissioning and nuclear facility services: Revenue from nuclear facility decommissioning services and radioactive waste management.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

TVEL fabricates and supplies nuclear fuel assemblies and components (VVER, RBMK, and small modular reactor designs) for nuclear power plants, performs uranium enrichment and conversion services, and produces stable isotopes for medical, industrial, and scientific use. Beyond nuclear, the company manufactures specialty chemicals (battery electrolytes and cathode materials, fluorinated products), autocatalysts, zirconium/titanium alloys, and operates additive manufacturing, energy storage, hydrogen electrolyzer, and decommissioning service lines through its subsidiary enterprises.

Differentiator

Problem solved

Functional benefit

Brands

• АтомМайнд (AtomMind): Digital platform for Rosatom enterprises
• АтомРеверс (AtomReverse)
• АтомБот (AtomBot)
• Проект «Прорыв» (Proryv Project)

Products and services

• Nuclear fuel assemblies for VVER and RBMK reactors Fabricated nuclear fuel assemblies and components supplied to nuclear power plants worldwide, designed for improved burnup depth, uranium capacity, operational resource, and reliability. Supplied to 75+ energy reactors across 13–15 countries.
• Enriched uranium product Uranium enrichment and conversion services for domestic and international nuclear fuel manufacturers, leveraging Russia's largest enriched uranium production capacity.
• Nuclear fuel components (zirconium cladding tubes, guide tubes, hexagonal tubes) Zirconium alloy components for nuclear fuel assemblies, including cladding tubes, guide tubes, and modified seamless hexagonal tubes for RITM-200N small modular reactor fuel assembly sheaths with 190 MW thermal output.
• Stable isotopes (lithium-7, hafnium, zirconium, calcium, titanium, niobium, tantalum) Stable isotopes for nuclear reactors (hafnium control rods), medical applications, industrial uses, aerospace, and fundamental physics research. TVEL holds ~40% of the global stable isotope market.
• Battery electrolytes (8 grades for lithium-ion, sodium-ion, potassium-ion) Eight grades of electrolytes for primary and rechargeable batteries including lithium-ion, sodium-ion, and potassium-ion systems, maintaining stable operation down to -40°C. Pilot capacity 6 tonnes/year with strategic plans to scale to 10,000 tonnes/year.
• Modified lithium cobaltate (LiCoO2) cathode material High-voltage lithium cobaltate cathode material with modified crystal form and chemical composition, increasing battery energy density by over 15% for portable electronics, power tools, and aerospace applications. Currently undergoing customer qualification in test battery cells.
• Low-temperature electrolyte (-60°C) Electrolyte composition for chemical power sources capable of operating at extremely low temperatures down to -60°C, developed for Arctic, polar station, and space applications.
• Euro-5/Euro-6 catalytic neutralizers Catalytic neutralizers meeting Euro-5 and Euro-6 standards for diesel and gasoline engines in trucks and commercial vehicles. Annual capacity exceeds 200,000 catalytic elements produced via automated robotic line.
• Complete exhaust systems Complete exhaust gas treatment systems for trucks and commercial vehicles, produced by Format Ecological Solutions (FER) in Tolyatti, partially owned by Rosatom Khimiya.
• Zirconium alloy products Zirconium alloy cladding tubes, guide tubes, and rolled products for nuclear fuel assemblies and industrial applications. ChMZ holds 18% of the global zirconium rolled products market.
• Titanium products (seamless tubes, alloys for additive manufacturing) Titanium seamless tubes for aerospace and chemical industry, titanium alloys (including PT-3V) for additive manufacturing. ChMZ holds 50% of the Russian titanium seamless tube market.
• Electrolytic high-purity calcium High-purity metallic calcium for aerospace, nuclear, and medical applications. ChMZ is the sole producer in Russia and Europe with 80% of the Russian metallic calcium market.
• EM-30 hydrogen electrolyzer module Hydrogen electrolyzer module producing hydrogen for remote regions, public transport, and heavy equipment, installed on Sakhalin under Russia's federal hydrogen energy program.
• Metal powders for additive manufacturing (titanium PT-3V and others) Metal powders for 3D printing applications, including certified reference samples of PT-3V titanium alloy powder for quality control. GOST R 72500-2025 national standard for titanium alloy wire for 3D printing.
• Additive manufacturing / 3D printing services Full-cycle 3D printing services from powder production to finished components, including over 200 ready 3D models reducing tooling lead times by 85%.
• Fluorinated carbon (CFx) Fluorinated carbon (polysulfon fluoride) for lithium batteries, high-performance antifriction additives, and corrosion-resistant coatings.
• Depleted uranium hexafluoride (DUF6) processing Industrial-scale processing of depleted uranium hexafluoride into marketable hydrofluoric products. ECP is the only Russian enterprise conducting this processing.
• Nuclear facility decommissioning and radioactive waste management services Decommissioning services for nuclear facilities and radioactive waste management, operated through TVEL's Decommissioning Division.
• Energy storage systems (gigafactories) Battery production and energy storage systems including Rosatom's first gigafactory in Kaliningrad Oblast (launched December 2025) and second gigafactory in New Moscow (planned 2026).
• Superconducting materials Superconducting materials sold to aerospace, automotive, chemical, oil & gas, and medical industries.
• Digital products (AtomMind, AtomReverse, AtomBot) Digital transformation platforms including AI-based AtomMind for Rosatom enterprises, AtomReverse digital product platform, and AtomBot automation and bot services platform. Covers over 200 IT projects across 8 key functional areas through 2030.
• Lithium compounds (lithium-7, metallic lithium) Lithium compounds including lithium-7 and metallic lithium produced at Novosibirsk plant (NZKhK) for nuclear, medical, and battery applications.
• Engineering services for fuel and energy sector Engineering services for the fuel and energy sector, provided by Centrotekh-Engineering subsidiary, supporting design and integration for fuel and energy projects.
• Electromobility solutions Electromobility solutions offered through TVEL's Electromobility Division, integrated with battery production capabilities.
• Medical materials and technologies (Rusatom Implants) Medical materials and technologies offered through the Rusatom Implants (Medtech) subsidiary, supporting medical device manufacturing.

Quantifiable outcome

• Every 6th energy reactor in the world operates on TVEL nuclear fuel
• +12 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature14 records

Partnerships

Ten partnerships are on record, tiered core, moderate and minor.

• Federal Center for Project Financing (Financing of Glazov development)coreStrategic or Co-development Partner · 1 January 2026Rosatom's cooperation with the Government of Udmurt Republic includes co-financing from federal budget funds for major Glazov development projects, particularly the reconstruction of the Glazov inter-district hospital and urban infrastructure projects.
• State Duma Committee on Industry and Trade (Expert Council on Chemical Industry Development)moderateStrategic or Co-development Partner · 1 January 2026Rosatom Khimiya representatives joined the Expert Council on Chemical Industry Development under the State Duma Committee on Industry and Trade. The company serves as an expert integrator for priority national tasks in import substitution and technological sovereignty, contributing to chemical industry development policy.
• AO OKB AfrikantovminorOthers · 1 January 2026AO OKB Afrikantov (a Rosatom enterprise) began manufacturing RITM-200 reactor components using a domestic 3D printer in 2025, as part of the additive manufacturing ecosystem developed by Rosatom.
• Siberian Federal University (SFU)minorStrategic or Co-development Partner · 1 January 2025ECP (Electrochemical Plant) and Siberian Federal University (SFU) united efforts to study isotope-modified crystals for the electronics industry, working on research and development of new crystal materials.
• 9 Russian battery manufacturers (testing electrolyte products)minorChannel Partner/ Reseller/ Distributor · 1 January 2025Rosatom Khimiya's eight electrolyte grades have been qualified by multiple Russian battery manufacturers and are currently under testing at nine companies across various battery market segments (medical, aerospace, energy storage).
• Rostec State Corporation (on certified reference samples)minorStrategic or Co-development Partner · 1 January 2025Rosatom enterprises and Rostec jointly developed and certified a reference sample of PT-3V titanium alloy metal powder for quality control in additive manufacturing, establishing metrological standards across both corporations' manufacturing facilities.
• Ural Advanced Engineering School of UrFU (Ural Federal University)minorStrategic or Co-development Partner · 1 January 2024NPO Centrotekh partnered with the Ural Advanced Engineering School of UrFU and the Kvantorium children's technopark to create an educational program teaching advanced engineering technologies to schoolchildren starting September 2024, with the goal of preparing students for admission to UrFU.
• ООО Формат Экологичные Решения (ФЭР)moderateStrategic or Co-development Partner · 1 January 2024Rosatom Khimiya acquired a 50% stake in ООО Format Ekologichnye Resheniya (ФЭР), a Russian manufacturer of exhaust gas neutralizers and complete exhaust systems based in Tolyatti, Samara Oblast. The acquisition strengthens Rosatom's position in the exhaust gas purification market, complementing existing autocatalyst production.
• Rosatom State Corporation (parent organization)coreStrategic or Co-development Partner · 1 January 2024NPO Centrotekh operates within the management circle of TVEL, the Fuel Company of Rosatom. TVEL is the fuel division of Rosatom State Corporation, which owns and oversees all subsidiary enterprises including NPO Centrotekh, ECP, ChMZ, Rosatom Khimiya, and others.
• Government of Udmurt RepubliccoreStrategic or Co-development Partner · 1 January 2012Rosatom and the Government of Udmurt Republic signed a cooperation agreement in 2012 for the socio-economic and infrastructure development of Glazov. The agreement channels additional tax payments from Rosatom enterprises in the region into city development. Over the agreement period, approximately 6 billion rubles have been directed to Glazov development. Annual plans include funding for infrastructure, healthcare, education, road repairs, and urban improvement projects. In 2026, 335 million rubles will be directed to Glazov under this agreement.

Scale indicators19 records

Recent moves9 records

Expansion highlights8 records

Emerging players

• X-energy: X-energy is a US SMR developer using TRISO fuel for its Xe-100 high-temperature gas reactor, with DOE and commercial partnerships. Comparable to TVEL's emerging SMR fuel business (RITM-200N hexagonal zirconium tubes, MSR coolant work) as both companies pursue fuel supply positions in the SMR market.
• Ultra Safe Nuclear Corporation (USNC): USNC develops Micro Modular Reactor (MMR) systems using TRISO fuel and offers Fully Ceramic Microencapsulated (FCM) fuel for SMR and advanced reactor applications. Comparable to TVEL as an emerging player in next-generation nuclear fuel technologies, particularly relevant given TVEL's advanced fuel development pipeline.

Direct peers

• Centrus Energy: Centrus Energy is a US-based supplier of enriched uranium for civilian nuclear power plants, with HALEU production capabilities for next-generation reactors. Comparable to TVEL's uranium enrichment business, particularly in serving Western utilities and advanced reactor developers.
• Framatome: Framatome (formerly AREVA) is a French nuclear fuel and reactor services company supplying fuel assemblies and components for PWR and BWR reactors worldwide. Comparable to TVEL as a vertically integrated nuclear fuel cycle company with enrichment, fabrication, and component manufacturing capabilities.
• BWX Technologies (BWXT): BWXT manufactures nuclear fuel and components for naval reactors, research reactors, and commercial nuclear power plants in North America. Comparable to TVEL in nuclear fuel fabrication expertise and component manufacturing for reactor cores, though focused on different customer segments.
• Orano: Orano (formerly AREVA) is a French nuclear fuel cycle company covering uranium mining, conversion, enrichment, fabrication, and decommissioning services. Directly comparable to TVEL as a fully integrated front-end and back-end nuclear fuel cycle operator serving global customers.
• Urenco: Urenco is a UK-German-Dutch uranium enrichment company using gas centrifuge technology, supplying enriched uranium for civil nuclear power programs globally. Directly comparable to TVEL's NPO Centrotekh enrichment operations and TVEL's position as a major enriched uranium producer.
• Westinghouse Electric Company: Westinghouse is a leading global supplier of nuclear fuel and services for PWR and BWR reactors, with fuel fabrication facilities in the US, UK, and Sweden. Directly comparable to TVEL as a nuclear fuel fabricator serving commercial power reactors, though focused on Western reactor designs.

Broad incumbents

• Kazatomprom: Kazatomprom is the world's largest uranium producer, headquartered in Kazakhstan and supplying natural uranium to global fuel cycle participants. Comparable to TVEL as a major nuclear fuel cycle player serving international nuclear power customers, though focused on mining rather than enrichment/fabrication.
• Cameco Corporation: Cameco is one of the world's largest uranium producers with conversion and fuel fabrication services (through JV with Brookfield). Comparable to TVEL across the front-end nuclear fuel cycle, though Cameco focuses on uranium mining while TVEL focuses on enrichment and fabrication.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCRJPSCd5rApOUIfJcTSVkPw
• Xx.com/tvel_nuclear

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries21 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fuel Company TVEL